EBET Inc. (EBET) can make a big difference with a little luck

EBET Inc. (NASDAQ: EBET) stock jumped 31.33% on Friday to $0.05 against a previous-day closing price of $0.04. With 190.64 million shares changed hands, the volume of the stock remained heavier than its average volume of 94.11 million shares. During the session, the Gambling company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.0545 whereas the lowest price it dropped to was $0.0430. The 52-week range on EBET shows that it touched its highest point at $2.66 and its lowest point at $0.03 during that stretch. Beta for the stock currently stands at 1.19.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EBET was up-trending over the past week, with a rise of 31.01%, but this was down by -37.21% over a month. Three-month performance dropped to -72.19% while six-month performance fell -86.21%. The stock lost -97.09% in the past year, while it has lost -91.35% so far this year.

Float and Shares Shorts:

At present, 448.05 million EBET shares are outstanding with a float of 447.26 million shares on hand for trading. On Aug 30, 2023, short shares totaled 21.35 million, which was 4.76% higher than short shares on Jul 30, 2023. In addition to Mr. Aaron Speach as the firm’s Founder, Pres, Chairman & CEO, Mr. Matthew Lourie CPA serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 10.46% of EBET’s outstanding shares, institutional investors have minority control over the company.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, EBET reported revenue of $18.17M and operating income of -$6.99M. The EBITDA in the recently reported quarter was -$5.02M and diluted EPS was -$0.70.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EBET since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EBET analysts setting a high price target of $3.00 and a low target of $3.00, the average target price over the next 12 months is $3.00. Based on these targets, EBET could surge 5900.0% to reach the target high and rise by 5900.0% to reach the target low. Reaching the average price target will result in a growth of 5900.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded EBET stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 107,511 while 0 shares were sold.

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